Arcturus Therapeutics (NASDAQ:ARCT) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Arcturus Therapeutics Holdings Inc. (NASDAQ:ARCT)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.45 and traded as low as $7.16. Arcturus Therapeutics shares last traded at $7.36, with a volume of 378,896 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ARCT shares. Weiss Ratings raised Arcturus Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, April 21st. Citigroup reduced their target price on Arcturus Therapeutics from $66.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 5th. B. Riley Financial started coverage on Arcturus Therapeutics in a report on Wednesday, March 18th. They set a “buy” rating and a $22.00 target price for the company. Finally, Piper Sandler cut their price target on Arcturus Therapeutics from $72.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.44.

Arcturus Therapeutics Price Performance

The stock has a market cap of $209.17 million, a price-to-earnings ratio of -2.62 and a beta of 2.36. The firm has a fifty day moving average of $7.97 and a 200 day moving average of $7.45.

Arcturus Therapeutics (NASDAQ:ARCT) last posted its quarterly earnings results on Friday, May 8th. The biotechnology company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.08. The firm had revenue of $2.06 million during the quarter, compared to analysts’ expectations of $6.30 million. Arcturus Therapeutics had a negative return on equity of 36.55% and a negative net margin of 143.80%. Research analysts anticipate that Arcturus Therapeutics Holdings Inc. will post -3.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arcturus Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in Arcturus Therapeutics by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,163 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 738 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Arcturus Therapeutics by 27.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 7,272 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 1,567 shares during the last quarter. Bank of America Corp DE increased its stake in Arcturus Therapeutics by 0.7% during the second quarter. Bank of America Corp DE now owns 292,429 shares of the biotechnology company’s stock worth $3,805,000 after acquiring an additional 2,098 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Arcturus Therapeutics by 42.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,760 shares of the biotechnology company’s stock worth $143,000 after acquiring an additional 2,313 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Arcturus Therapeutics by 163.4% during the second quarter. BNP Paribas Financial Markets now owns 4,169 shares of the biotechnology company’s stock worth $54,000 after acquiring an additional 2,586 shares during the last quarter. 94.54% of the stock is currently owned by institutional investors and hedge funds.

Arcturus Therapeutics Company Profile

Arcturus Therapeutics Holdings Inc is a clinical-stage biotechnology company dedicated to developing messenger RNA (mRNA) medicines that address a range of diseases. The company leverages its proprietary STARR® mRNA platform to enable precise control over mRNA expression, supported by its lipid nanoparticle delivery technology, LUNAR®. Arcturus’s approach is designed to address both therapeutic and prophylactic applications, with an emphasis on vaccines and treatments for rare genetic and infectious diseases.

The company’s pipeline includes ARCT-810, an mRNA therapeutic candidate for phenylketonuria (PKU), and ARCT-021 (also known as LUNAR-COV19), a COVID-19 vaccine candidate developed in collaboration with Duke-NUS Medical School in Singapore.